Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 8 January 2018, 19:00 HKT/SGT

Source: AIR Worldwide
AIR Worldwide's Fund Designation Strategy Continues Momentum with Crop Insurers

BOSTON, Jan 8, 2018 - (ACN Newswire) - Catastrophe modeling firm AIR Worldwide announced that Hudson Crop, a unit of Hudson Insurance Group, has selected the AIR Fund Designation Service to enhance its fund designation strategy. AIR's fund designation solution enables insurers to manage their crop portfolio risk and better optimize their company's stakeholder value under current yield, price, and crop insurance program uncertainties. AIR Worldwide is a Verisk (Nasdaq:VRSK) business.

Dan Gasser, president of Hudson Crop Insurance Services, commented, "AIR has a proven track record of providing powerful solutions for agricultural risk management, providing us with more data and analytics to make better allocation decisions."

The AIR Fund Designation Service provides fund designation alternatives, allowing companies to choose the option that best fits their risk-return target and profile. The service uses AIR's leading Multiple Peril Crop Insurance (MPCI) Model for the U.S. to rank and sort policies based on their estimated risk level. Several risk metrics, such as probability of loss, mean loss ratio, 100-year return loss ratio, and tail value at risk, can be used for risk assessment of individual insurance policies. AIR can then apply various retention levels to develop multiple fund designation strategies - those giving the highest expected return for a chosen level of risk.

"Because it is unrealistic to accurately forecast weather, yield, and price outcomes for the next growing season at the time of the fund designation deadline, the best approach is often a probabilistic one," said Dr. Oscar Vergara, assistant vice president at AIR Worldwide. "AIR leverages its advanced MPCI model to simulate 10,000 possible yield and price outcomes that are equally likely to occur during the next growing season. The modeled events are based on the current climate, geographically correlated and trended to current levels of crop technological improvements. We couple the power of stochastic modeling with historical producer data through AIR's Insured Producer Performance (IPP) Score(TM), and companies like Hudson Crop are able to use this enhanced optimization service at the time of each fund designation deadline."

As part of this relationship, Hudson Crop has also licensed the recently updated U.S. Multiple Peril Crop Insurance (MPCI) Model and the U.S. Crop Hail Model, the leading models for the U.S. crop insurance and reinsurance industry, in AIR's CATRADER(R) software application.

About AIR Worldwide

AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber attacks globally. Insurance, reinsurance, financial, corporate, and government clients rely on AIR's advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit

For more information, contact:
Kevin Long
AIR Worldwide


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AIR Worldwide via Globenewswire

Jan 8, 2018 19:00 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

AIR Worldwide
Apr 9, 2018 18:30 HKT/SGT
AIR Worldwide Collaborates with RenaissanceRe to Develop Industry's First Probabilistic Model for Extreme Liability Events
Feb 6, 2018 09:00 HKT/SGT
AIR Worldwide Appoints Roger Grenier to Lead Global Resilience Practice
Jan 26, 2018 08:00 HKT/SGT
AIR Worldwide Estimates Industry Insured Losses for Winter Storm Friederike Will be Between EUR 1.3 Billion and EUR 2.6 Billion
Jan 12, 2018 08:00 HKT/SGT
AIR Worldwide Estimates Insured Losses from Winter Storm Eleanor/Burglind of between EUR 1.1 Billion and EUR 1.6 Billion
Dec 7, 2017 07:30 HKT/SGT
AIR Updates Insured Loss Estimates for Hurricane Maria
Apr 21, 2016 09:00 HKT/SGT
AIR Estimates Insured Losses from M7.0 Japan Earthquake at Between JPY 180 Billion (USD 1.7 Billion) and JPY 320 Billion (USD 2.9 Billion)
Apr 11, 2016 20:00 HKT/SGT
AIR Releases Industry's First Open Source Cyber Scenario
Apr 4, 2016 18:10 HKT/SGT
American Family Insurance Brings Catastrophe Modeling In-House: Uses AIR's Touchstone Software Platform
Dec 22, 2015 22:30 HKT/SGT
AIR Worldwide's Earthquake Model for Peru Approved by Peruvian Insurance Regulator Superintendencia de Banca y Seguros
Dec 4, 2015 05:00 HKT/SGT
Global Adoption of AIR's Touchstone Platform Continues across the Industry as Companies Choose a Proven Solution
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: